A new steel market update from Majestic Steel sees more steel mills idling furnaces as a result of decreased demand. 

With a mission to “give the customer what they need when they need it,” Dennis Leebow opened Majestic Steel USA’s operations in 1979. Now the company's next generation, represented by his son and current CEO Todd Leebow, plans an expansion. 

"We are not yet looking at a glut of seaborne iron ore. But risks are escalating, and the balance is tilting towards a bigger hit to iron ore demand than supply."

By prioritizing cash and liquidity, the company will maintain strategic flexibility in order to be well prepared for when the global economy ultimately recovers from the current situation. 

At their two-year anniversary, the 232 tariffs are unquestionably hurting steel-using manufacturers and consumers across the U.S. says the Coalition of American Metal Manufacturers and Users. 

The company has been in frequent communication with customers to stay current on how federal, state and local government actions are impacting their businesses while adjusting as necessary to continue supporting and servicing their needs. 

Now up after dropping four out of the previous five weeks, according to Majestic Steel. 

Comments of HARDI and Wood Mackenzie on the coronavirus' potential impact on the economic distribution market. 

The de-escalation of the trade war continues as China hopes to project calm amid a brewing coronavirus storm. 

Last week, domestic raw steel production dipped slightly this week after six consecutive weekly increases, according to Majestic Steel.